Which is why internet radio with it's endless formats to chose from will win the battle and radio stations go the way of the dodo bird. Over the air radio = Limited choices, Internet Radio = Endless choices! Wi-Max Wins at least in the cities.
People prove every day they don't want lots of choices. They just want one choice, the one that has their favorites, whatever that is. They'd prefer "limited choice radio" to simply play more of their favorites, and fewer songs they don't like. That's the attraction of services like Pandora. But just as Springsteen sang about cable TV, internet radio is often infinite choices, with nothing on.
In the grocery store that can apply to me. As for choices in music/radio/entertainment I am not in the "one choice" camp at all. There's not a lot of people, granted, who like a variety of music/radio etc. For instance, I don't 'get' the "Twilight" craze. I don't 'get' Lady Gaga. And I also don't care for Pandora as if I will have some software/computer decide that if I like A, well I must like A1 and A2. My Winamp player is full of bookmarked stream URLs, about half are over the air stations and about half are Internet only. Yeh I know I am that exception to the rule. But I don't agree that there's "nothing on". You just have to take a little time in your discovery.
The real test down the line will be how the operators make money out of their hobby. Some stations actually sound professional these days, quite different from just a few years ago.
Re. the thread topic, its a non issue for me. I used to really dig KUTE The Quiet Storm format of the mid-80s. I had heard nothing like it in the NYC metro area when I moved to Orange County from NJ in early 1985. The Quiet Storm was really unique, breaking songs that rock (!) and/or Top 40/CHR and AC stations would play later on. KUTE even played tracks like "Your Latest Trick" from Dire Straits great CD "Brothers in Arms". If the WAVE waved goodbye tomorrow I wouldn't even notice. But if 107.1 The Peak or Legato Cafe.net or Radio Paradise went bye bye, that would be a huge disappointment.